A Juniper Research study reveals this will be achieved by reducing emissions and congestion globally with smart intersections identified as the key technology behind savings.
Smart traffic management systems are forecast to save cities $277bn, by reducing emissions and congestion globally by 2025, according to new research.
The study from Juniper Research identified smart intersections as the key technology behind these savings (rising from $178bn in 2021), by enabling a reduction of 33 hours of time spent in traffic per annum per motorist by 2025.
Smart intersections include areas of high traffic that leverage connectivity and AI-based automation to monitor and manage traffic flow based on real-time data to reduce the time wasted by road congestion.
The report, Smart Traffic Management: Technologies, Use Cases & Market Forecasts 2021-2025 predicts that more than 95 per cent of the $277bn savings will be attributable to congestion reduction.
North America and Europe are anticipated to account for over 75 per cent of all savings, owing to their increasing investment into smart traffic management and the high vehicle usage in these regions, the report finds.
The research also contends that vehicle-to-everything (V2X) technologies are critical to the enhancement of existing smart traffic management services. V2X leverages cellular connectivity to enable vehicles and smart traffic infrastructure to communicate information.
North America and Europe are anticipated to account for over 75 per cent of all savings, owing to their increasing investment into smart traffic management and the high vehicle usage in these regions
It predicts that V2X connectivity will enable smart traffic management platforms to gather data directly from vehicles, rather than relying on traditional traffic actuation methods. In turn, stakeholder collaboration will enable the integration of various automotive services into smart traffic management, providing enhanced convenience for vehicles utilising smart parking services.
Additionally, the report forecasts that investment into smart parking will reach $1bn by 2025, rising from $460m in 2021. It anticipates that smart parking vendors will focus on the connectivity between parking sensors, management platforms and end users, and urges vendors to focus on smart displays that provide relevant and up-to-date parking availability information to road users in a safe manner.
Juniper Research provides research and analytical services to the global hi-tech communications sector, providing consultancy, analyst reports, and industry commentary.
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